Commercial Real Estate Sector, on the Road to Recovery

According to specialists from Colliers and SiiLA, the commercial real estate market continues to recover in a context of economic reactivation, after a 2020 where there was a significant drop, as well as a 2021 where there was a slight growth, and with an upward perspective for the next few years.

"The characteristic image of the pandemic was to find closed stores and an increasing number of available spaces," explained SiiLA and added that during 2021 the rate of vacancy of premises decreased compared to what was reported in 2020, so that currently 23.98% of the premises built are unoccupied in the markets of Mexico City, Guadalajara and Monterrey.

Ricardo Sanchez Pie, Director of Commercialization of Shopping Centers at Colliers Mexico City, stated that, although the retail panorama has been affected during these years of pandemic, there is currently a period of stabilization; however, a clear recovery could take place in the second half of 2024.

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